Zededa closes $72M Series C round to expand edge market reach
Edge management and orchestration provider Zededa has raised $72 million in growth capital. The Series C round was led by Smith Point Capital, founded by former Salesforce co-CEO Keith Block.
With the latest funding, Zededa says they are set to expand sales, marketing and research to meet the growing demand for edge computing.
Meanwhile, Zededa’s CEO and founder, Said Ouissal, is filled with confidence as they expand their cloud operational infrastructure model. He further emphasizes Zededa’s commitment to meeting the growing demand for AI and real-time data analytics.
Zededa has raised over $127 million in total funding, with the latest round attracting significant investment interest. New investors, including the Hillman Company, LDV Partners, Endeavor Catalyst Fund, and Forward Investments (DEWA), joined existing investors like Lux Capital, Almaz Capital, and Juniper Networks.
Keith Block, CEO and founder of Smith Point Capital, sees edge computing as a key catalyst for digital transformation, tackling the challenges of an interconnected world.
“Said and his team have a big vision and have already solved critical pain points around deploying workloads at scale for several enterprise verticals,” Block continues. “We are thrilled to lead the Series C round.”
Meanwhile, according to Arvind Rao, the VP of industry solutions at Rockwell Automation, there is a strong demand for real-time control, visualization, closed-loop processes and asset optimization applications at the edge.
“With our strategic partnership with Zededa, we can offer industry-leading, centralized edge management solutions that deliver value across the lifecycle of our customer’s applications, significantly reducing their total cost of ownership,” adds Rao.
Zededa’s annual recurring revenue grew by over 250% YoY, with nodes under management increasing by over 300%. Notable customers include a major global automobile manufacturer, which chose Zededa to modernize 70,000 dealerships, manufacturing facilities and service centers worldwide.
In 2022, Zededa successfully closed a $26 million Series B funding round. Core Energy 7 led the round, with participation from Juniper Networks, Samsung Next, Porsche Digital and Chevron. The funds were to further develop Zededa’s edge computing platform, expand research and development efforts, and support sales and marketing operations.
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Article Topics
edge | funding round | Zededa
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